XRP To $7.5? Analysts Breakdown Pattern Indicating Rally 

Juhi Mirza
Source: Watcher.Guru

Ripple (XRP) is dubbed one of the most controversial crypto coins in the space. The fact that the token has long been battling a legal war with the US SEC and is still managing to stay afloat speaks volumes about its power and recognition in the cryptocurrency realm.

The XRP community has stuck to the token through thick and thin and continues to be a remarkable source of inspiration for the token. Similarly, the community is now witnessing what is being referred to as the last phase of the US SEC’s war with XRP, which could end soon. The development could significantly shape the future price of the XRP in the process, catapulting it to new, unprecedented highs.

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Analyst Predicts XRP Price Hike To $7.5

Source: WatcherGuru

Egrag Crypto, a popular financial analyst on X, has curated a new price prediction for XRP to spike and claim. Per the analyst, the token is currently forming a white triangle formation on its monthly price charts. In traditional trading jargon, triangles often refer to a bullish price trajectory, and such formations are often indicative of a positive price pace for the asset.

Additionally, the analyst pointed out how XRP’s path post-triangle formation will also significantly impact its FIB levels. Speaking in detail, the expert shared how XRP is currently being supported by an atlas line on its price chart, despite encountering skirmishes in its path toward claiming the $1 mark.

Egrag Crypto was quick to note how XRP is genuinely inching towards establishing a new price milestone very soon. The expert stressed the importance of “patience,” adding that the new XRP ATH is inching closer than ever.

“The Fib 1.618 zone ($6.5-$7.5) is critical, and taking profits will happen here. 📈💰 C) Closing on a weekly basis above Fib 1.618, the next targets will be mid-double digits near Fib 2.41 and & 2.618. 🚀🌕 #XRPArmy STAY STEADY! 🛡️ Trust me, all we need is for other coins to pump before #XRP. The rotational profits will pour 100% into #XRP because it is the BLACK RSE 🐎 which all my bets are on!.”

XRP Price June Forecast

Despite the sluggish price path that XRP has projected lately, the token will be spiking nearly 20%. According to a forecast by CoinCodex, XRP may trade at a high of $0.55 by the end of June 2024.

“According to our current Ripple price prediction, the price of XRP is predicted to rise by 20.68% and reach $0.578579 by July 14, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 74 (greed). XRP recorded 14/30 (47%) green days with 2.91% price volatility over the last 30 days. “

Another notable crypto platform, Changelly, predicts a similar price trajectory for Ripple. The platform shared that Ripple may spike and trade at the $0.57 level, respectively.